Four Main Misconceptions about Business Succession

November 13, 2017June 1, 2018 by Paul Hopkins

There are various challenges in business every day, so succession of business cannot be said that priority is given to owners and advisers. For example, most business executives have to worry about revenue, sales, marketing, and partnership and so on. Click here 事業承継

As a result, while you are living your everyday business, the successor becomes a feeling to solve on your own. Due to that feeling, the misunderstanding of the successor planning relationship is fairly normal among the owners.

Occasionally, business owners and leaders have a lot of worries so it’s not their fault. There are times when there is a pleasant effect. Because he himself has had various difficulties for business and company, it is natural that you do not want to think of a company when he is not there.

Regardless of why, it will result in no successor strategy, so the company will be in a ridiculous situation. What is the misunderstanding of the business? I will mention the four general:

The successor plan is the same as the plan for retirement: Most of the owners of business think of the successor of business just like planning for retirement, but do not think so.

Retirement is only a part of successor. The successor is a comprehensive process that combines various elements. In addition to that, it is not a compelling situation, it is a long-term process. In short, the process the successor thinks for the company, the process the retirement considers for the individual.

The value of the business depends on a lot: In whatever form your successor process is, you must consider the value of the company and tackle the plan of the successor stock of the business. However, absolute rules do not exist because worth depends on the feeling of the viewer.

To study how much your company’s value will be, you must study various factors. In order for the successor process to proceed smoothly, we must judge all of the elements together.

Succession plan will not be for business: Since the succession plan of business will not be for business, there are many business owners who think that they should not give priority.

A successor to business is to do for a sense of security, but it is also a measure for your company to exist for a long time.

Selling business is easy: selling business is not always easy. The competition is very intense.

Not only for investment profit but also must be a successor with values ​​to match. Taxes on successor to business are also quite expensive.

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